Federal government announces nearly $3M for 6 N.S. medical tech companies
The federal government announced on Friday it's investing nearly $3 million to six medical and technology companies in Nova Scotia, money aimed at helping them expand their operations, enhance their products and create jobs.
"I think there's some great health tech, medical tech, medical device technology out here in Atlantic Canada," said Alex Dunphy, co-founder and CEO at Adaptiiv Medical Technologies. "We're doing our best to get that out into the market, into clinicians hands and on patients in the end."
Adaptiiv Medical Technologies, which makes 3D-printed accessories used during radiotherapy, received $963,164.
"Cancer is growing, our customers are looking for clinically better solutions for their patients and ultimately other solutions that can save them time in the cancer centre," Dunphy said.
The other companies that received funding were Daxsonics Ultrasound Inc. with $725,910, Nova Resp Technologies Inc. with $555,386, Sparrow Bioacoustics Inc. with $504,624, Allumiqs Corp. with $140,625, and B-Line with $99,750.
Using AI to prevent apnea
The funding came from the Atlantic Canada Opportunities Agency and the Regional Economic Growth through Innovation program.
Nova Resp Technologies makes software that delivers lower air pressures in sleep apnea machines, making them more comfortable for users. Company CEO Hamad Hanafi said sleep apnea, where someone stops breathing while asleep, can kill.
"Our software uses AI to predict and prevent apneas and by doing so we lower the pressure of therapy needed for patients," Hanafi said.
He said the company will use the money for two clinical tests, which will examine whether the software is effective.
The ACOA support is essential for local companies, he said, and he hopes his company's product will one day be sold globally.
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